Taylor Wimpey changed price on another Plot

zali87

AdrianC wrote: »

...and I repeat...
If it was £5k more, would you expect them to honour your price, or would you insist on paying the new price?

If contracts have not been exchanged then they have the right to do this. However of course you would try to negotiate on this to keep it at the original purchase price. Everyone wants to get the best deal.

The site is almost 3 years old and I am sure the prices on the plot then was cheaper than the plots being sold today.

My point is that as soon as I sign on the dotted line I will automatically lose £5k. I understand new build always lose some value but why should I lose an additional £5k when we have not exchanged contracts yet.

SallyDucati

I am in a similar position but I've already moved in and it's a small developer not a big national.

The price of some of the remaining houses are now lower than what I paid, but then again some of the houses sold before mine were sold for higher prices. If the development is 3 years old others may have paid more than you are.

Also you got incentives, these might well not be being offered with the remaining houses but a reduced price is more attractive. So overall the difference might not be £5k.

By all means ask about reducing the price, you've nothing to lose in asking, but how much would you lose in legals and searches if you pulled out now.

hazyjo

Crashy_Time wrote: »

So you think old houses are not going to drop in price?

New houses often carry a premium meaning when you move in, it's instantly second hand and if you wanted to sell 6 months later, it would be worth less than a new one next door.


Obviously old houses can drop in price too - but that's inflation. If the market/price drops, the new build price would drop too - not only with the premium, but also with inflation meaning it would suffer twice.


If prices increase, the old house would go up. The new house may still only increase back up to what they paid in the first place and not be worth more.

zali87

SallyDucati wrote: »

I am in a similar position but I've already moved in and it's a small developer not a big national.

The price of some of the remaining houses are now lower than what I paid, but then again some of the houses sold before mine were sold for higher prices. If the development is 3 years old others may have paid more than you are.

Also you got incentives, these might well not be being offered with the remaining houses but a reduced price is more attractive. So overall the difference might not be £5k.

By all means ask about reducing the price, you've nothing to lose in asking, but how much would you lose in legals and searches if you pulled out now.

Reservation fee was £500, not sure what the legals would be, shouldn't be more than a couple hundred. I have asked them so we will have to see what happens. I will need my best negotiating hat on for this one. As these are the last few plots I am sure they wouldn't want to lose a sale that is almost ready to be signed over for £5k. I would be happy if they gave the difference in house price as options vouchers as all the paperwork is now done, we are just waiting on the searches to come back from the solicitor.

CM66

I bought my new build back in 2007, row of 8 houses and i was the first person to buy.


I paid £195k and subsequently all of the other houses sold for less than mine.


9 years later this has not affected the value of my house at all (in fact mine is still valued higher than the others as i picked the best plot of the 8 available)


You havent 'lost' 5k and as you said you've been given incentives to compensate for the difference so i honestly think you are worrying about nothing.

parking_question_chap

Firstly this doesnt "devalue your house by £5000", right now thats out of the way.

Pull out of the sale if you are now that unhappy.

EachPenny

jonnygee2 wrote: »

That's not so similiar because you had already ought the bread.

Imagine if you were just on your way to the check out, and you noticed the assistant marking down the exact same bread that's in your basket behind you.

I wonder what you'd do then? :-)

There is nothing stopping you going straight to the customer services desk and asking for a refund on the full-price loaf, then going back and buying the reduced price one.

Completion of the purchase (of the loaf of bread) doesn't preclude the possibility of changing your mind. (subject to T&C's )

As others have said, the OP's situation allows them sufficient margin to cancel the current deal (writing off costs incurred to date) and buying a cheaper plot.

What they cannot control is the value of the property (and sale price of others) once they are committed to buying it.

kingstreet

But you don't know if your cash/non-cash incentives will be greater than their £5k price reduction.

You may be shooting yourself in the foot.

lisyloo

So we managed to get some incentives with the house.

So you are not comparing like for like as next door probably doesn't have those incentives.
We negotiated on ours, but we didn't get to pick the colours of the tiles etc. as they'd already had to order.


But by all means take the advice and re-negotiate.

lookstraightahead

Can I buy a really old loaf of bread instead of a new house? My house is 170 years old just wondering if there is an equivalent baguette